Techno Paints is setting up three more plants. These plants, which will come up at Visakhapatnam and Chittoor in Andhra Pradesh and Katni in Madhya Pradesh, will manufacture cement putty, textures, primers and emulsions.
In the first phase, each plant will have an annual capacity of 30,000 metric tonnes. The company is investing Rs 46 crore in these new plants, as per Akuri Srinivas Reddy, Founder, Techno Paints – Fortune Group.
Techno Paints currently has three plants in Telangana and one in Andhra Pradesh, with a cumulative annual capacity of 2.50 Lakh metric tonnes. Techno Paints is also introducing colour banks technology. With this, it can immediately supply customised paints to its customers, this facility is only available with multinational paint companies, informs Reddy. According to him, Techno Paints has started the manufacturing of solvent-based enamel paints in the last financial year. The company is making special textures and finishes in collaboration with Italy-based Realto Colours.
It is estimated that India’s paints and coatings market will reach Rs 62,689 crore this year. It is expected to clock 7 per cent CAGR during 2023-28.